HNI Corporation (HNI) Income Statement
HNI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHNI revenue and net income
Where HNI's revenue goes
2025Each bar shows an amount and its share of revenue. HNI kept 1.9% of revenue as net income.
HNI profit margins
HNI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +12.4% | +6.3% | +7.7% | +2.1% |
| Gross profit | +13.9% | +12.2% | +10.5% | +3.2% |
| Operating income | +11.0% | +26.0% | +19.1% | +3.0% |
| Net income | −61.1% | −24.1% | +5.3% | −6.4% |
| EPS (diluted) | +13.7% | +16.7% | +14.3% | +3.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HNI quarterly EPS vs estimates
HNI beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 3, 2026 (estimate $1.40).
HNI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.84B | $2.53B | $2.43B | $2.36B | $2.18B | $1.96B | $2.25B | $2.26B | $2.18B | $2.20B |
| Cost of revenue | $1.69B | $1.52B | $1.48B | $1.55B | $1.46B | $1.26B | $1.44B | $1.45B | $1.41B | $1.37B |
| Gross profit | $1.15B | $1.01B | $949.2M | $812.8M | $727.2M | $696.9M | $809.4M | $811.3M | $767.6M | $837.8M |
| Research & development | $56.6M | $53.6M | $47.2M | $47.8M | $39.4M | $35.3M | $34.7M | $33.4M | $31.8M | $28.1M |
| Sales, general & admin | $937.0M | $736.1M | $694.6M | $581.4M | $547.4M | $522.5M | $556.4M | $557.0M | $552.7M | $552.6M |
| Total operating expenses | $907.1M | $790.7M | $772.0M | $692.5M | $635.5M | $596.3M | $655.6M | $667.4M | $655.5M | $640.5M |
| Operating income | $240.6M | $216.8M | $177.2M | $120.3M | $91.7M | $100.6M | $153.7M | $143.9M | $112.2M | $197.3M |
| Interest income | $35.6M | $27.2M | $25.5M | $8.8M | $7.2M | $7.0M | $8.6M | $579,000 | $297,000 | $305,000 |
| Interest expense | $35.1M | $27.2M | $25.5M | $8.8M | $7.2M | $7.0M | $8.6M | $10.0M | $6.4M | $5.1M |
| Income before taxes | $90.8M | $179.3M | $64.8M | $146.4M | $78.3M | $54.4M | $142.7M | $118.7M | $70.6M | $128.9M |
| Income taxes | $36.5M | $39.8M | $15.6M | $22.5M | $18.5M | $12.5M | $32.2M | $25.4M | −$19.3M | $43.3M |
| Net income | $54.2M | $139.5M | $49.2M | $123.9M | $59.8M | $41.9M | $110.5M | $93.4M | $89.8M | $85.6M |
| EBITDA | $233.0M | $313.8M | $185.2M | $239.5M | $167.6M | $138.8M | $230.2M | $202.5M | $149.5M | $202.0M |
| EPS (diluted) | $3.48 | $3.06 | $2.59 | $2.19 | $1.62 | $1.78 | $2.60 | $2.41 | $1.97 | $2.61 |
| Gross margin | 40.4% | 39.9% | 39.0% | 34.4% | 33.3% | 35.6% | 36.0% | 35.9% | 35.3% | 38.0% |
| Operating margin | 8.5% | 8.6% | 7.3% | 5.1% | 4.2% | 5.1% | 6.8% | 6.4% | 5.2% | 9.0% |
| Net margin | 1.9% | 5.5% | 2.0% | 5.2% | 2.7% | 2.1% | 4.9% | 4.1% | 4.1% | 3.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.47B | $1.35B | $888.4M | $683.8M | $667.1M | $599.8M | $642.5M | $672.2M | $623.7M | $588.0M | $679.8M | $711.6M |
| Cost of revenue | $825.2M | $881.3M | $534.1M | $394.2M | $388.2M | $368.7M | $387.1M | $399.3M | $370.2M | $362.9M | $406.7M | $426.3M |
| Gross profit | $647.2M | $466.2M | $354.3M | $289.6M | $278.9M | $231.1M | $255.4M | $272.9M | $253.5M | $225.1M | $273.1M | $285.3M |
| Research & development | — | — | — | — | — | — | $53.6M | — | — | — | $47.2M | — |
| Sales, general & admin | $533.0M | $514.8M | $291.3M | $215.6M | $215.5M | $207.6M | $142.3M | $208.4M | $205.9M | $203.1M | $73.2M | $223.3M |
| Total operating expenses | $533.0M | $478.6M | $290.4M | $215.6M | $208.2M | $200.3M | $195.8M | $200.7M | $198.1M | $195.3M | $207.3M | $220.5M |
| Operating income | $114.2M | −$12.4M | $63.9M | $74.0M | $70.7M | $30.8M | $59.6M | $72.2M | $55.4M | $29.8M | $65.8M | $64.8M |
| Interest income | — | — | $16.7M | $7.2M | $6.1M | $5.5M | $5.1M | $7.1M | — | — | — | $9.4M |
| Interest expense | $23.7M | $21.0M | $16.5M | $5.7M | $6.2M | $5.6M | $5.1M | $7.1M | $7.4M | $7.6M | $8.0M | $9.4M |
| Income before taxes | $71.2M | −$55.6M | −$47.6M | $57.4M | $62.0M | $18.9M | $49.5M | $61.8M | $46.0M | $22.0M | $22.7M | $47.4M |
| Income taxes | $20.1M | −$16.8M | $1.6M | $16.2M | $13.8M | $5.0M | $11.2M | $14.3M | $10.0M | $4.3M | $26.5M | $9.6M |
| Net income | $51.1M | −$38.8M | −$49.2M | $41.2M | $48.2M | $13.9M | $38.3M | $47.5M | $36.0M | $17.7M | $22.7M | $37.8M |
| EBITDA | $180.4M | $62.8M | $600,000 | $88.0M | $93.2M | $50.0M | $82.3M | $95.9M | $79.6M | $55.9M | $57.2M | $82.3M |
| EPS (diluted) | $1.27 | $0.34 | $0.83 | $1.10 | $1.11 | $0.44 | $0.87 | $1.03 | $0.79 | $0.37 | $0.98 | $0.93 |
| Gross margin | 44.0% | 34.6% | 39.9% | 42.4% | 41.8% | 38.5% | 39.8% | 40.6% | 40.6% | 38.3% | 40.2% | 40.1% |
| Operating margin | 7.8% | −0.9% | 7.2% | 10.8% | 10.6% | 5.1% | 9.3% | 10.7% | 8.9% | 5.1% | 9.7% | 9.1% |
| Net margin | 3.5% | −2.9% | −5.5% | 6.0% | 7.2% | 2.3% | 6.0% | 7.1% | 5.8% | 3.0% | 3.3% | 5.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HNI's financial statements (latest annual report filed March 3, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HNI financial results
In fiscal year 2025 (ended December 31, 2025), HNI reported revenue of $2.8 billion, up 12.4% from the year before. It had net income of $54.2 million (down 61.1%), a net profit margin of 1.9%. Diluted earnings per share came to $3.48. Over five years revenue grew at an average rate of 7.7% a year.
See the HNI stock overview for the latest quote and news, or the HNI chart for price history and technical indicators.
HNI income statement FAQ
What is HNI's annual revenue?
HNI reported total revenue of $2.8 billion for fiscal year 2025, which ended on December 31, 2025. That was up 12.4% from $2.5 billion the previous year.
Is HNI profitable?
Yes. HNI reported net income of $54.2 million in fiscal 2025, a net profit margin of 1.9%; its operating margin was 8.5%.
What is HNI's gross margin?
HNI's gross margin was 40.4% in fiscal 2025: for every $100 of revenue, HNI kept $40 after the direct cost of its products and services.
How much does HNI spend on research and development?
HNI spent $56.6 million on research and development in fiscal 2025, 2.0% of revenue.
How fast is HNI growing?
Revenue grew 7.7% a year on average over the last five fiscal years, from $2.0 billion to $2.8 billion.
What are HNI's earnings per share?
HNI earned $3.48 per diluted share in fiscal 2025, compared with $3.06 a year earlier.
When will HNI report its next earnings?
HNI is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 before the market opens.
When does HNI's fiscal year end?
HNI's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 3, 2026.